Loan & DebtJul 1, 2026, 04:06 PM
Scorpio Tankers to Redeem $200M Notes; Secures $90M Credit Facility
AI Summary
Scorpio Tankers Inc. announced the redemption of its outstanding $200 million 7.5% Senior Unsecured Notes due 2030, with redemption expected on July 17, 2026, at a make-whole price of 106.4% of par. Concurrently, the company secured a new credit facility of up to $90 million from Standard Chartered Bank and DekaBank Deutsche Girozentrale. This new facility, bearing interest at SOFR plus 1.20% per annum, will finance a portion of the purchase price for four newbuilding product tankers.
Key Highlights
- Scorpio Tankers to redeem $200 million 7.5% Senior Unsecured Notes due 2030.
- Notes to be redeemed on July 17, 2026, at a make-whole price of 106.4% of par.
- Secured a new credit facility of up to $90 million from Standard Chartered and DekaBank.
- New credit facility will finance four scrubber-fitted MR newbuilding product tankers.
- Credit facility has a final maturity of seven years from vessel delivery.
- Interest rate for the new credit facility is SOFR plus a margin of 1.20% per annum.
Price Impact
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